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Abilene council authorizes up to $40 million in 2025 refunding bonds to lower interest costs
Summary
Council approved an ordinance delegating authority to issue refunding general obligation bonds under specific parameters intended to refinance 2016 and 2017 debt and generate an estimated present‑value savings of at least 6 percent.
The Abilene City Council approved an ordinance delegating authority to issue 2025 refunding general obligation bonds that would refinance portions of the city's 2016 and 2017 debt and related certificates of obligation.
Finance director Marjorie Knight told the council the ordinance authorizes the sale of refunding bonds with a principal amount not to exceed $40,000,000, a minimum net…
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